On Liang Shiyi's Financial Policy In The Early Years Of Republic Of China

In the early years of the Republic of China,the drawbacks of the state finances were even worse than that in the late Qing Dynasty.The state's financial resources were depleted,spending was huge,and the fiscal deficit was extremely serious.Liang Shiyi was one of the central figures in the early days of the Republic of China and was trusted by Yuan Shikai for his outstanding financial management capabilities.From 1912 to 1916,Liang Shizhen's main activities were concentrated on the economic field.He successively served as Secretary-General of the Presidential Office,Prime Minister of the Bank of Communications,Chief Financial Officer,Prime Minister of the National Debt Office,and Supervision Office of the Tax Office.As a result,he was able to use his power to influence the operation of the early Republican finance.Finance is the key to the survival of the country.The unity of finance is the foundation of national unity.Facing the plight of the national finance in the early years of the Republic of China,Liang Shiyi's means to rectify the state's finances are:budgeting,saving and reducing taxes,reforming taxation,arranging and procuring money,reforming currency systems,and developing industries.This is of great significance in rectifying the shortcomings of the fiscal and improving the financial conditions.At the same time,he also provided financial support for Yuan Shikai's establishment of an authoritarian government with financial measures such as borrowing foreign debt,setting up domestic debt,and using bank funds to fund government operations.Comprehensively examining Liang Shiyi's financial management policy,we can see that these policies have eased the financial crisis in the early years of the Republic of China and promoted the decentralization of the country's financial power to the unification;on the other hand,they stabilized the social order in the early years of the Republic of China and consolidated Yuan Shikai's dominance.However,it is undeniable that as a politician,the financial management policy implemented by Liang Shiyi is often limited by his political position in certain aspects,and therefore there are mistakes and biases.This also determines that his financial management policy is contradictory and complex.This contradiction and complexity is a reasonable choice made under the chaotic and complicated social and historical background of the gradual acceleration of Yuan Shikai's restoration of the monarchy in the early years of the Republic of China.